s 11 Borrowing limit for Government securities and Treasury Bills
11.—(1) The Minister may raise loans, in the manner provided in this Part, by the issue of Government securities and Treasury Bills in Singapore. (2) However, the Minister must not raise a loan under this Act if the aggregate amount borrowed by the issue of Government securities and Treasury Bills —(a) under either or both as follows:(i) the repealed 1923 Act; (ii) this Act, whether before, on or after the date of commencement of section 14 of the Government Borrowing (Miscellaneous Amendments) Act 2021; and (b) outstanding at any time, exceeds $1,065,000,000,000, or any higher amount specified in a resolution of Parliament with which the President concurs in the President’s discretion under Article 144(1)(a) of the Constitution. [Act 35 of 2021 wef 31/01/2022]